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TANDEM FEDERAL CREDIT UNION

Jun, 30, 2021 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in Warren, MI with 1 branch location and about $26.43 million in total assets. Opened 80 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,692 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TANDEM FEDERAL CREDIT UNION
Address:
(Main Office)
21043 Mound Rd
Warren, MI 48091-2903
Phone:(586) 759-5050
Fax:(586) 759-5053
Website:http://www.tandemfcu.com
Branches:1 branch locations
Members:2,692
Credit Union Type:Federal Credit Union
Charter Number:4787
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1941
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$26,434,649
CEO/Manager:Deirdre Taylor
Chairperson:Patricia Swann-Brown

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,659,528
TOTAL INVESTMENTS 16,026,320
Loans Held for Sale 0
 
 Real Estate Loans 1,993,127
 Unsecured Loans 1,730,122
 Other Loans 4,126,067
 TOTAL LOANS 7,849,316
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -77,505
 Land And Building 264,714
 Other Fixed Assets 122,432
 NCUSIF Deposit 201,581
 All Other Assets 388,263
  TOTAL ASSETS 26,434,649
LIABILITIES & CAPITAL:  
 Dividends Payable 1,747
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 17,962
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,411,927
 Regular shares 18,247,143
 All Other Shares & Deposits 1,505,359
  TOTAL SHARES & DEPOSITS 22,164,429
  TOTAL LIABILITIES 22,184,138
 Regular Reserve 1,896,385
 Other Reserves 167,399
 Undivided Earnings 2,186,727
  TOTAL EQUITY 4,250,511
  TOTAL LIABILITIES, SHARES, & EQUITY 26,434,649
INCOME & EXPENSE  
 Loan Income 253,744
 Investment Income 105,733
 Other Income 99,467
 Total Employee Compensation & Benefits 198,063
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 299,298
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,846
 Cost of Funds 15,864
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -10,910
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